The UAE’s economic model has been based on the unrestricted flow of goods in and out of the Strait of Hormuz, but Iran turned that model into a liability during more than three months of conflict this year. Rather than risk being held to ransom by Iran again, the UAE plans an ambitious gambit to reduce its reliance on the chokepoint entirely,
“We’re moving towards having zero Hormuz dependency and that’s regardless of whether it’s open or not,” Minister of Foreign Trade Thani al Zeyoudi said in an interview with Bloomberg this week. “It’s going to open and we hope that will happen quickly, but we will not stop the new plan.” (CONTINUED - 576 WORDS)
